BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sees Unusually-High Trading Volume – Still a Buy?

BlackRock Capital Allocation Term Trust (NYSE:BCAT) shares saw an uptick in trading volume on Friday . 214,058 shares traded hands during mid-day trading, a decline of 39% from the previous session’s volume of 352,540 shares.The stock last traded at $16.36 and had previously closed at $16.18.

BlackRock Capital Allocation Term Trust Stock Up 0.6 %

The business has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $16.32.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.2885 dividend. This represents a $3.46 dividend on an annualized basis and a yield of 21.28%. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 15th.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 14,973 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.41, for a total transaction of $245,706.93. Following the sale, the insider now directly owns 16,302,733 shares in the company, valued at approximately $267,527,848.53. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 723,927 shares of company stock valued at $11,925,047.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

Several hedge funds have recently modified their holdings of the stock. Fountainhead AM LLC raised its holdings in shares of BlackRock Capital Allocation Term Trust by 2.1% during the 3rd quarter. Fountainhead AM LLC now owns 53,570 shares of the company’s stock valued at $881,000 after buying an additional 1,095 shares during the period. Prospera Financial Services Inc raised its holdings in shares of BlackRock Capital Allocation Term Trust by 5.0% during the 3rd quarter. Prospera Financial Services Inc now owns 23,693 shares of the company’s stock valued at $390,000 after buying an additional 1,137 shares during the period. Blue Bell Private Wealth Management LLC raised its holdings in shares of BlackRock Capital Allocation Term Trust by 4.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 104,722 shares of the company’s stock valued at $1,718,000 after buying an additional 4,059 shares during the period. Transcend Capital Advisors LLC raised its holdings in shares of BlackRock Capital Allocation Term Trust by 7.3% during the 2nd quarter. Transcend Capital Advisors LLC now owns 65,207 shares of the company’s stock valued at $1,070,000 after buying an additional 4,435 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of BlackRock Capital Allocation Term Trust by 4.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 133,238 shares of the company’s stock valued at $2,186,000 after buying an additional 5,438 shares during the period. 36.12% of the stock is currently owned by hedge funds and other institutional investors.

BlackRock Capital Allocation Term Trust Company Profile

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